Trading Discussion How to read charts in forex

[Phabbyfundz]

To be a forex trader you have to get acquainted with the three most popular charts you will encounter in forex.
—line chart
—bar chart
—Japanese candle stick chart.
The line chart is the most basic chart type and is created by connecting several data points together with a line. The line chart can give you a good idea about how the currency prices changes over a given time frame and allows you to keep an accurate track record of historical closing prices.
The bar chart is used in technical analysis to indicate the highest price a security traded at during the day as well as the lowest price at the top and the bottom of the vertical line respectively
The candlestick chart resembles a lot to the bar chart but the major difference is the relationship between opening and closing prices. Unlike the bar chart the candlestick chart emphasizes more on the relationship between the opening price and closing price of the same trading day.

 

[btaliat]

Thanks for the post. I am stuck at how to read chart on crypto. Is the same way you read on forex that you will read it in forex. I was told by someone that there is no need of knowing how to resd chart in crypto before one can trade. Do you even know anything about it?

 

[AliForexTalks]

The bottom of a vertical bar displays the lowest traded price for that period, while the top shows the highest. The vertical bar indicates the currency pair's overall trading range. On the left side of a bar chart is the horizontal hash, which shows the opening price.05-Nov-2018

 

[Setho]

There are so many ways in which people like to read their own chat and understand the market but I prefer to use the candlestick chart especially the one that is donating read for bearish and green for bullish. I also prefer it to be horizontal in nature and my favourite time frame is the 4-hour candle.